I'm 7 months into my IVA and so far have nothing but good things to say.
I have received a payrise at work but this will be offset due to childcare payments.
My Question is: my original debt was for £9000 but due to my IVA the figured owed is now £6000 if I was to pay off my creditors while in an IVA i.e. I owe £160 overdraft and £900 to very so if I paid off the overdraft and a chunk towards very, would this affect my IVA positively as in would I owe less?
Thanks for your reply, I thought the answer would be something like that and it was never my intention to do so, I was just curious what would happen!
The IVA was a last ditch effort I was on a low income and the credit card payments alone was coming in at around £300 a month, everything became unmanageable.
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